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Wednesday, May 6, 2009

Cisco 2Q:2009 results

Reports a nickel better on a negligible revenue beat.  Guides to down 17-20% – street is down 19%ish… so modestly better.  Commentary perhaps more important – customers saying they’re seeing a bottom and feeling better about stability… but that they’re at significantly lower levels.  Though this is a change from prior quarter commentaries that business was eroding and there was worldwide economic risk, it’s not exactly a shot across the bow of recovery.

Stock was up a buck on the # and has come back in to flat.  Call still ongoing.

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